CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.
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Dollar - Turkish Lira Analysis

US Session Analysis for CFD Instruments 24/10/2024

Fundamental analysis

24 October, 2024

The US Dollar edged lower against the Turkish Lira during the European session, above 34.200 levels.

In European trading the volatile currency pair pulled back slightly as the dollar declined and ahead of the publication of Meeting Minutes from the Turkish Central Bank. In Turkey, Turkish Central Bank Monetary Policy Meeting Minutes will be released today (12:00 GMT+1). In the United States, Initial Jobless Claims figures (243k exp) will be revealed (13:30 GMT+1), Global Manufacturing and Services PMI data for October (47.5 and 55.0 respectively expected) will be posted (14:45 GMT+1) and New Homes Sales for September data will be released (15:00 GMT+1).

Technical analysis

Dollar - Turkish Lira Analysis Technical analysis 24/10/2024
Time Frame: 1 hour

USDTRY Support & Resistance Table - 24/10/2024

Support & Resistance Level Explanation
Resistance 2 34.3200 Daily R2
Resistance 1 34.2857 Daily R1
Support 1 34.1941 Daily S1
Support 2 34.1598 Daily S2

USDTRY Indicator Table - 24/10/2024

Indicator Signal
SMA 20 Sell
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Buy
RSI (14) Sell
Stochastic ( 9;6;3) Sell

USDTRY Indicator / Period Table - 24/10/2024

Indicator / Period Day - SellWeek - BuyMonth - Buy
MACD( 12;26;9) Buy BuyBuy
RSI (14) Sell SellSell
SMA 20 Sell BuyBuy

USDTRY 24/10/2024 - Reference Price : 34.2448

Sell
Simple Moving AverageBuy (2)Sell (1)
Technical Indicators - OscillatorsBuy (1)Sell (2)
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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